Every month, employers will be expected to provide
The Pensions Trust with a complete list of contributions applicable to each individual member. Contribution payments must be received by The Pensions Trust by the 14th of the calendar month following the month in which the contributions were deducted from the members' salaries.
The list of contributions must include the following information:
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• National Insurance Number |
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• The Pensions Trust Membership Number |
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• Member’s Surname |
| • Payroll Number |
| • Part Time Hours (If Applicable) |
| • Full Time Equivalent Hours |
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• Annual Pensionable Salary |
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• Member Contributions |
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• Employer Contributions |
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• Additional Voluntary Contributions |
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• Additional Information & Effective Date. |
|
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The preferred format for employers with an expected membership of more than 10 is an Excel (or compatible) spreadsheet showing each of the above categories in a separate column. (The same information would also be acceptable in a .csv file.) The columns should show only the required information and there must be only one row of information per member. The ‘Additional Information’ column should hold any relevant data changes i.e. changes to salary, working hours, leavers, maternity leave, sick leave etc… and also show the relevant date of the change.
This information should be e-mailed to: contributions@thepensionstrust.org.uk
If you are unable to provide this information in the preferred format, or your expected membership is less than 10, it is possible for The Pensions Trust to provide you with a paper alternative and a users’ guide.
Your Legal Obligation
Whichever format is used, please note you are legally obliged to remit, on time, all contributions deducted from employees' pay. If you fail to do this, your organisation may be reported to the Pensions Regulator and could be fined. The Pensions Trust will not be responsible for any penalty imposed for late payment of contributions.
Member Contributions – important note
If you have chosen age-banded contributions you must ensure systems are in place to enable you to change a member’s contribution rate on reaching age 30 and again on reaching age 40.
Members’ contributions will be increased on the 1st April following their 30th or 40th birthday.
For more information, please refer to our Employer Administration Guide, click here.
Please note pension contributions should not be deducted from holiday pay, (where this relates to outstanding holidays when an employee leaves employment) or payment in lieu of notice.
Where an employee leaves part way through the month, contributions should only be deducted for the portion of the month they are still employed and not for the whole month.
If contributions are deducted incorrectly you will be obliged to refund them to the employee via your payroll system to ensure Tax and National Insurance are deducted correctly.